Blumberg owns an auto parts business called Bill's Auto Parts. The following transactions took place during July of the current year. uly 5 Purchased merchandise on account from Wheeler Warehouse, $4,300. 8 Paid freight charge on merchandise purchased, $230. 12 Sold merchandise on account to Big Time Spoiler, $3,500. The merchandise cost $2,500. 15 Received a credit memo from Wheeler Warehouse for merchandise, $670. 22 Issued a credit memo to Big Time Spoiler for merchandise returned, $820. The cost of the merchandise is $550. equired: - Journalize the above transactions in a general journal using the periodic inventory method. If an amount box does not require an entry, leave it blank. Page: 1
Blumberg owns an auto parts business called Bill's Auto Parts. The following transactions took place during July of the current year. uly 5 Purchased merchandise on account from Wheeler Warehouse, $4,300. 8 Paid freight charge on merchandise purchased, $230. 12 Sold merchandise on account to Big Time Spoiler, $3,500. The merchandise cost $2,500. 15 Received a credit memo from Wheeler Warehouse for merchandise, $670. 22 Issued a credit memo to Big Time Spoiler for merchandise returned, $820. The cost of the merchandise is $550. equired: - Journalize the above transactions in a general journal using the periodic inventory method. If an amount box does not require an entry, leave it blank. Page: 1
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
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O acco
Q Unit
Q Accc
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3 July 8
4
4
5 July 12
6.
6
7 July 15
9
9 July 22
10
10
2. Journalize the above transactions in a general journal using the perpetual inventory method. If an amount box does not require an entry, leave it blank.
Page: 1
POST.
DATE
DESCRIPTION
DEBIT
CREDIT
REF.
1 July 5
1
2
2
3 July 8
3.
4
5 July 12
5
6.
6.
7 July 12
7
9 July 15
6.
10
10
11 July 22
11
12
12
13 July 22
13
14
14
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Transcribed Image Text:G Whe
G A me
O Que:
O Acco
G the i
O acco
O acco
Q Unit
Q Accc
Acco
3 July 8
4
4
5 July 12
6.
6
7 July 15
9
9 July 22
10
10
2. Journalize the above transactions in a general journal using the perpetual inventory method. If an amount box does not require an entry, leave it blank.
Page: 1
POST.
DATE
DESCRIPTION
DEBIT
CREDIT
REF.
1 July 5
1
2
2
3 July 8
3.
4
5 July 12
5
6.
6.
7 July 12
7
9 July 15
6.
10
10
11 July 22
11
12
12
13 July 22
13
14
14
Check My Worki more Check My Work uses remaining
All work saved.
hp
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G Whe
G A me
a Qu
QL
Q Acco
O acco
Unit
QAcco
O acco
Acco
sinment takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress%=false
I Blumberg owns an auto parts business called Bill's Auto Parts. The following transactions took place during July of the current year.
July 5 Purchased merchandise on account from Wheeler Warehouse, $4,300.
8 Paid freight charge on merchandise purchased, $230.
12 Sold merchandise on account to Big Time Spoiler, $3,500. The merchandise cost
$2,500.
15 Received a credit memo from Wheeler Warehouse for merchandise, $670.
22 Issued a credit memo to Big Time Spoiler for merchandise returned, $820. The cost
of the merchandise is $550.
Required:
1. Journalize the above transactions in a general journal using the periodic inventory method. If an amount box does not require an entry, leave it blank.
Page: 1
POST.
DATE
DESCRIPTION
DEBIT CREDIT
REF.
1 July 5
2.
3 July 8
3.
4
4.
5 July 12
6.
6.
7 Jul15
7.
8
9 July 22
6.
10
10
2. Journalize the above transactions in a general journal using the perpetual inventory method. If an amount box does not require an entry, leave it blank.
Page 1
DATE
DESCRIPTION
POST.
DEBIT CREDIT
REF.
1 July 5
Check My Worlk more ChecK My Work useSamaining
All work saved"
Transcribed Image Text:G the ir
G Whe
G A me
a Qu
QL
Q Acco
O acco
Unit
QAcco
O acco
Acco
sinment takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress%=false
I Blumberg owns an auto parts business called Bill's Auto Parts. The following transactions took place during July of the current year.
July 5 Purchased merchandise on account from Wheeler Warehouse, $4,300.
8 Paid freight charge on merchandise purchased, $230.
12 Sold merchandise on account to Big Time Spoiler, $3,500. The merchandise cost
$2,500.
15 Received a credit memo from Wheeler Warehouse for merchandise, $670.
22 Issued a credit memo to Big Time Spoiler for merchandise returned, $820. The cost
of the merchandise is $550.
Required:
1. Journalize the above transactions in a general journal using the periodic inventory method. If an amount box does not require an entry, leave it blank.
Page: 1
POST.
DATE
DESCRIPTION
DEBIT CREDIT
REF.
1 July 5
2.
3 July 8
3.
4
4.
5 July 12
6.
6.
7 Jul15
7.
8
9 July 22
6.
10
10
2. Journalize the above transactions in a general journal using the perpetual inventory method. If an amount box does not require an entry, leave it blank.
Page 1
DATE
DESCRIPTION
POST.
DEBIT CREDIT
REF.
1 July 5
Check My Worlk more ChecK My Work useSamaining
All work saved
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